ASCENT INDUSTRIES CO.

Listed Company

ACNTCIK 0000095953NasdaqAcceleratedSmaller ReportingChemicals & Allied ProductsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$74.94M

Net Income

$867.0K

Total Assets

$111.94M

Equity

$86.99M

Shares Out

9.47M

Op. Cash Flow

$-519.0K

Business

Ascent Industries Co. is a diversified industrials company that produces specialty chemicals and manufactures stainless steel pipe and tube. It offers specialty formulations and intermediates — including surfactants, defoamers, lubricating agents, flame retardants and chemical intermediates — as well as welded and ornamental stainless steel pipe and tube in a range of sizes and finishes. The business operates through two reportable segments, Specialty Chemicals and Tubular Products, with manufacturing facilities including BRISMET and ASTI and custom and multi-purpose plants. Products are sold via inside and outside sales, distribution partners, independent representatives and directly to OEMs, distributors and end users across oil & gas, HII, automotive, construction, food, pharmaceutical and other industrial markets.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	75	81	193	262	335
Cost of sales	58	70	192	219	274
Gross profit	17	11	2	43	61
Selling, general and administrative expense	24	21	—	—	—
Research and development	71,000	0	—	—	—
Acquisition costs and other	731,000	662,000	855,000	1	1
Asset impairments	2	0	—	0	200,000
Gain on lease modification	−2	−67,000	0	—	0
Operating loss from continuing operations	−7	−11	−37	15	27
Interest (income) expense, net	−712,000	417,000	—	—	—
Other, net	−753,000	−448,000	−593,000	−209,000	143,000
Loss from continuing operations before income taxes	−6	−11	−41	12	25
Income tax provision	22,000	2	−7	−6	5
Loss from continuing operations	−6	−13	−34	18	—
Income (loss) from discontinued operations, net of tax	6	−1	8	4	—
Net income (loss)	867,000	−14	−27	22	20
Basic (in dollars per share)	−0.58	−1.24	−3.37	1.72	—
Diluted (in dollars per share)	−0.58	−1.24	−3.37	1.69	—
Basic (in dollars per share)	0.67	−0.11	0.74	0.44	—
Diluted (in dollars per share)	0.67	−0.11	0.74	0.43	—
Basic (in dollars per share)	0.09	−1.35	−2.63	2.16	2.17
Diluted (in dollars per share)	0.09	−1.35	−2.63	2.12	2.14
Basic (in shares)	10	10	10	10	9
Diluted (in shares)	10	10	10	10	9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	58	16	2	1	2
Accounts receivable, net	10	12	15	33	33
Advances and other receivables	5	52,000	—	—	—
Raw materials	6	5	21	33	48
Finished goods	3	1	18	23	30
Total inventories	9	6	52	68	103
Prepaid expenses and other current assets	1	1	5	8	4
Current assets of discontinued operations	0	48	861,000	60	855,000
Total current assets	83	83	89	170	160
Property, plant and equipment, net	16	18	30	36	44
Right-of-use assets, operating leases, net	9	28	28	29	31
Intangible assets, net	3	3	8	10	14
Deferred charges, net	401,000	309,000	104,000	203,000	302,000
Other non-current assets	553,000	512,000	2	2	4
Long-term assets of discontinued operations	0	14	0	9	—
Total assets	112	147	163	269	266
Accounts payable	5	7	16	14	32
Accrued expenses and other current liabilities	5	4	5	6	12
Current portion of note payable	400,000	369,000	360,000	387,000	0
Current portion of operating lease liabilities	712,000	1	1	1	1
Current portion of finance lease liabilities	331,000	293,000	292,000	280,000	233,000
Current liabilities of discontinued operations	0	10	1	10	—
Total current liabilities	12	22	25	33	50
Long-term portion of operating lease liabilities	11	30	30	31	32
Long-term portion of finance lease liabilities	808,000	1	1	1	1
Deferred income taxes	241,000	320,000	0	0	2
Other long-term liabilities	45,000	51,000	60,000	68,000	89,000
Total liabilities	25	54	56	135	154
Commitments and contingencies see Note 15	—	—	—	—	—
Common stock - $1 par value: 24,000,000 shares authorized; 9,400,898 and 10,072,590 shares outstanding as of December 31, 2025 and 2024, respectively	11	11	11	11	11
Capital in excess of par value	48	47	47	47	46
Retained earnings	46	45	59	85	63
Shareholders' equity before treasury stock	105	103	117	143	120
Less cost of common stock in treasury - 1,684,205 and 1,012,513 shares, respectively	−18	−10	−10	−9	—
Total shareholders' equity	87	94	107	134	112
Total liabilities and shareholders' equity	112	147	163	269	266

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	4	4	6	6	8
Amortization expense	600,000	700,000	2	2	3
Amortization of debt issuance costs	258,000	105,000	100,000	100,000	100,000
Deferred income taxes	22,000	2	−7	−6	−2
(Reduction of) provision for losses on accounts receivable	−569,000	51,000	−180,000	478,000	−398,000
Loss on disposal of property, plant and equipment	1,000	289,000	246,000	−18,000	−848,000
Non-cash lease expense	128,000	111,000	242,000	414,000	481,000
Share-based compensation expense	1	760,000	1	1	799,000
Accounts receivable and advances	−3	3	—	—	−16
Inventories	−3	5	16	−14	−19
Other assets and liabilities	−521,000	−160,000	515,000	−211,000	−55,000
Accounts payable	−2	−3	2	−6	11
Accrued expenses	1	40,000	−401,000	−2	2
Accrued income taxes	−149,000	1	3	−8	9
Net cash (used in) provided by operating activities - continuing operations	−7	977,000	7	−5	—
Net cash provided by operating activities - discontinued operations	7	14	16	11	—
Net cash (used in) provided by operating activities	−519,000	15	23	6	19
Purchases of property, plant and equipment	−2	−1	−3	−3	−1
Net cash used in investing activities - continuing operations	−2	−1	−3	−3	—
Net cash provided by investing activities - discontinued operations	53	2	53	−2	—
Net cash provided by investing activities	51	905,000	51	−5	−33
Borrowings from credit facilities	137	198	257	443	216
Proceeds from note payable	1	914,000	900,000	967,000	0
Proceeds from exercise of stock options	415,000	0	0	175,000	109,000
Payments on credit facilities	−137	−198	−328	−442	−207
Payments on note payable	−1	−906,000	−928,000	−580,000	0
Principal payments on finance lease obligations	−287,000	−289,000	−305,000	−266,000	−92,000
Repurchase of common stock	−9	−1	−1	−1	0
Net cash used in financing activities - continuing operations	−9	−1	−73	−374,000	—
Net cash used in financing activities - discontinued operations	−19,000	−11,000	0	−808,000	—
Net cash used in financing activities	−9	−1	−73	−1	15
Increase in cash and cash equivalents	41	14	410,000	−580,000	2
Interest	174,000	277,000	4	2	1
Capital expenditures, not yet paid	204,000	267,000	653,000	751,000	0

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